What is a Sales Funnel? And HOW TO Build One in 2023

What is a Sales Funnel? And HOW TO Build One in 2022

Whatever your business, whether you have a website or are running a marketing campaign that you want to convert into sales, having a sales funnel is essential.

Sales funnels are a way to make sure your promotions and marketing tools are working effectively and efficiently to deliver the results you want.

TO ALL SME OWNERS, TO ALL SALES & MARKETING MANAGERS WHO AIM TO GROW THEIR ACTIVITY

Here’s the secret information to position your business for success.

Without having a funnel to capture your users and create customers, you could be wasting hundreds of thousands of dollars, time, energy, resources, and more.

So, where to start? How do you begin creating a sales funnel?

First, understand what the intent of your sales funnel is. What exactly are you trying to achieve? What is your ultimate goal?

Here’s a basic understanding of a typical sales funnel for most businesses.

As you can see, the strategy is to attract prospects, offer them free products or services, and then offer them a low-cost item in the hopes that they will purchase a more expensive item in the future. (up-sell).

This particular template may not work for your business. If so, figure out your ultimate goal and work backwards from there.

With your framework in place, the next step is to break down each stage of the funnel to figure out how you will get them from point A to point B.

This is a crucial step – you can have the best and most logical sales funnel in place, but if you don’t calculate how they will get from point to point, you may find that your funnel doesn’t convert. Never.

Most funnels will start with the same step: attracting leads. It’s not as easy as it sounds and could cost your business dearly if you don’t know what you’re doing.

Here are some suggestions for attracting leads:

Blog posts

It’s a standard way to attract leads because it helps strengthen your company’s voice and makes your potential customers count on you and trust you. It also helps them understand your services and if they fit your style and cause.

Creating an entertaining and traffic-generating blog takes a lot of work, but there are many ways to achieve it.

#1: Hire a content writer or copywriter with basic SEO knowledge to write content daily. Content must be posted regularly to help keep your page fresh and relevant to your customers. Posts should be genuine, well-researched, and offer information about your product and service. Once you’ve built up a collection of at least ten posts, if not more, you can start showing them on social media platforms and services like Google Adwords.

#2: You can write the articles yourself, so your readers get a sense of your style, personality, and voice. It would be a good strategy if you offered a service that depended exclusively on you. For example, coaching or consulting services. This will take much more time and energy and be slower to build. However, it will pay off in the long run. Most dedicated bloggers find that most of their income and sales come from blogging.

Launch a public relations campaign

Hiring a PR company to run a campaign on your product can be very effective, but it could also be a massive waste of resources and detrimental to your business if you don’t have all the right tools. If you spend money on a PR campaign, your site needs to be up-to-date and running like a well-oiled machine. Your sales should be rigorously tested by a professional who knows what they’re doing.

The risk of launching a PR campaign before your business is truly ready is that first impressions linger, and you don’t want your customers to have the wrong idea of ​​what you offer.

social media

Many businesses succeed by building a fan base on social media. Although Facebook is a good platform for sharing content and ideas, think further about Twitter and Instagram. Both social media sites aren’t heavy on content, so they’re great for working with your blog marketing. Alternatively, they’re a great way to continue letting the world know you exist if you want to skip the blog idea altogether.

On Twitter, stick to indirect marketing. This means you don’t want to bombard your Twitter account with links to sales pages. Instead, you want to share a variety of content from across the web that is relevant to your product or service. For example, if you run a marketing business, share content on landing pages, the latest tech gadgets, etc.

Then, once you’ve built a following, you can slowly start introducing some of your products and services.

The same goes for Instagram. This social platform only uses images to help engage fans. It can be very effective for specific industries such as cosmetics, fashion, beauty, food, etc. If you don’t run a very visual business, i.e. you don’t have photos of items you can share, why not post quotes or other images that indirectly relate to your company? Be creative, and try different strategies.

SEO

Search engine optimization is a bit of a dark horse in the marketing world. No one knows how Google’s algorithm works and if so, they’re charging you a pretty penny for giving you the information. There are basic SEO rules to follow, but it’s really about having quality content.

Ultimately, Google and other search engines design their algorithm to be user-friendly, which means if it’s relevant and suitable for the user, there’s a good chance it will show up at the top of the results. Of research.

Hiring an SEO team is recommended to ensure your results are on top of Google. Indeed, SEO is one of those things that can take time and cost your business dearly if you don’t do it right.

Search engines, like Google, have many red flags they look for, and if they feel your site is trying to manipulate their algorithm, you could be blocked for life.

Share content/guest blogging

Another great way to attract leads is to share your content on other sites or offer to write for other sites. This is an excellent strategy if you want to build your blog and reach a relevant demographic quickly. Start with an area with a similar audience or traffic to yours, then expand to sites with a higher following. You can also arrange to cross-promote each other’s content on different social media platforms.

Once you’ve started generating leads, the next step is to get their details by offering some quick and easy-to-access service or freebie.

Think of it as a fair trade – you want their email address, and you have to entice them with something.

This is an excellent time to remind yourself to ensure you have the main stages of your sales funnel and your detailed strategy for how they will move from point to point.

Here are some suggestions you can offer your readers in exchange for their email:

• Audio recordings
• Newsletters
• Online course
• eBooks
• Resource Lists
• Graphics
• Webinars
• Free Consultation

Of course, the service you offer will highly depend on the type of product you sell, and your next step in your sales funnel.

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Once you connect them to the free product or service, you have their email address, and you can now start scaling up your marketing strategy and tactics.

The next step in the sales funnel example we’re working with is to offer a range of low-cost items that showcase your expertise or what your brand is all about.

The first product you present to your prospects doesn’t have to be the cheapest, but it should be the most relevant. For example, start with your base model and work up to higher-end models if you’re selling shoes.

Think about your signature product, then go from there. This should be tested and monitored, as different demographics would react differently.

Now that you have your signature or the most relevant product to sell, how do you go about it? How do I go from an email address to a sale?

If you’ve got the early stages of your sales to funnel neatly integrated, your customers should know what you do and what you offer, but that doesn’t mean you can’t afford to educate them a bit more.

If you want your customers to buy your product, you have to give them a need, and you have to understand what needs they have and what they have already presented to you through their involvement.

For example, if you have a prospect who is actively engaged on Facebook, has opened many emails, or signed up for your mailing list, they may be considered a Qualified Marketing Lead (MQL), meaning it’s a potential customer.

Marketing 101 classifies MQLs into four groups – it is worth understanding this to market them effectively:

Low interest, low fit

These are the prospects least likely to buy. They may not need your product and have been minimally engaged. This doesn’t mean that you should abandon these potential customers, but it should be noted that they will generally be slower to act.

How would this change your marketing strategy? Maybe you need to offer more information, more freebies, or create more of a need.

High interest, low fit

Potential customers are looking for a product and service that you offer but are unlikely to choose you over another product or company. There are many reasons for this and none that you should take personally. You should learn from these types of MQLs and use them as a way to update or integrate different elements into your products and services.

Does that mean you shouldn’t approach these leads at all? Ultimately, you have to accept that not everyone will buy your product. However, a lead is a lead, and there’s no reason you can’t keep them engaged with bonus content and other indirect sales tactics.

Low interest, high fit

These are prospects who are your target customer but are not interested in purchasing your product. These leads are precious but will be slow to make a sale. It is certainly in your interest to continue canvassing them and force them to understand what your products and services entail step by step. Your hard work here will pay off down the road.

High interest, high fit

If only all leads could fit into this category! This is, of course, the ultimate MQL who is ready to buy and loves your product. These leads should be your sales team’s top priority because they will generate the most significant ROI.

Once you’ve determined where your prospects fit, you can begin your sales funnel’s final stage and present them with the ultimate product.

In the example we followed, the focus was on possible upselling. Again, you need to figure out what will work best for your business and services, but if you go with this strategy, you’ll need to explore how you would keep your buyers coming back.

An effective way to do this would be to offer one-click upsells on the checkout page or in an email subscription.

There are countless ways to market your product, but understanding your prospects’ needs and wants can be vital to getting them through the sales funnel from start to finish.

As you can see, a sales funnel helps you organize your strategy into a neat step-by-step package. This article has only scratched the surface of generating a highly converting sales funnel, but hopefully, it has asked you some questions about how you can improve your conversion rate.

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What is a Sales Funnel? And HOW TO Build One in 2023